- SkinQ provides dermatologist-tested solutions designed exclusively for melanin-rich skin, boosting confidence and well-being for a global audience.
- Utilizing the funds for new product launches, research and development, team expansion, and brand enhancement is a strategic move for SkinQ.
- SkinQ achieved recognition as a finalist at the prestigious Beauty & You awards by Estee Lauder & Nykaa in November ’23.
- Inflection Point Ventures (IPV) has invested over INR 650 Cr across 200+ deals, showcasing a robust track record in strategic investments.
Bangalore, December 28, 2023: SkinQ Dermo Cosmetics, a trailblazer in personalized skincare, has successfully secured a seed investment of $600 thousand in a round led by Inflection Point Ventures, featuring participation from Venture Catalysts and Super Angels. This funding represents a pivotal step in SkinQ’s mission to introduce advanced dermo cosmetic solutions to the market.
Founded by the globally acclaimed dermatologist, Dr. Chytra V Anand, SkinQ is not merely a brand but a movement aimed at reshaping skincare norms. Rooted in the empowerment of individuals with melanin-rich skin, SkinQ seeks to boost confidence and well-being. With an ambitious goal to elevate the Skin Quotient of 10 million customers in the next three years, SkinQ is setting a new industry standard with clinically tested solutions for Skin of Colour, delivering dermatologist expertise directly to consumers’ homes.
The seed capital from IPV is crucial for SkinQ’s expansive plans, earmarked for launching innovative products, intensifying research and development, expanding the team, and bolstering the brand’s market presence. This investment signals a transformative phase for SkinQ, poised to disrupt the traditional skincare market with its unique focus on melanin-rich skin.
SkinQ is led by two prominent women in their respective fields. Dr. Chytra Anand, Founder & Chief Formulator, is a globally renowned dermatologist and a leading skin influencer. Meera Iyer, Co-Founder & CEO, brings her strategic acumen, shaped by roles at Unilever, Big Basket, and Medlife in CMO & CBO capacities.
Ivy Chin, Partner at Inflection Point Ventures, acknowledges SkinQ’s potential to revolutionize skincare by recognizing the unique needs of Indians with melanin-rich skin. SkinQ’s operational success is evident in its substantial month-over-month revenue growth, cultivating a discerning customer base and new distribution channels. Notably, SkinQ is the first Indian-origin Dermo Cosmetics brand available in Dermatology offices & MedSpas in the USA.
With a range of clinically proven functional Dermo Cosmetic solutions designed for efficacy, SkinQ stands out as the first brand to specifically formulate and test products addressing concerns of skin of colour, setting a pioneering standard in the industry.
Dr. Chytra Anand expresses gratitude for the support from existing investors, emphasizing SkinQ’s commitment to redefining the skincare paradigm. The capital infusion will enhance research and development, enrich the product portfolio, and expand outreach.
SkinQ has gained industry recognition, securing finalist positions at prestigious events like Estee Lauder & Nykaa’s Beauty & You awards and the D2C Innovation Awards. Its sunscreens have been lauded, ranking among the top choices in Vogue Beauty Awards and Elle Beauty Awards, affirming SkinQ’s dedication to quality and effectiveness in skincare.
The Dermo Cosmetics market in India is on a significant upward trajectory, projected to reach $450 million by 2030, and globally, the industry is anticipated to grow from $51 billion in 2021 to an impressive $130 billion by 2030, signaling substantial expansion and potential for the coming years.
Submitted by PR Agency
